The weekly: Greece to default/restructure THIS weekend? thread

[antelope]

I bring it up again because it really describes european politicians.
Sarkozy laughs about the Italian situation?

OECD report government DEFICIT: (2010 2011 2012)
Germany -3,3 -2,1 -1,2
Italy -4,5 -3,9 -2,6
France -7,0 -5,6 -4,6

Numbers don't seem to mean anything to markets, until someone at a high level points out the collapse of the French banking system and the enormous deficit.

 

[C6H12O6]

Quote from antelope:

I bring it up again because it really describes european politicians.
Sarkozy laughs about the Italian situation?

OECD report government DEFICIT: (2010 2011 2012)
Germany -3,3 -2,1 -1,2
Italy -4,5 -3,9 -2,6
France -7,0 -5,6 -4,6

Numbers don't seem to mean anything to markets, until someone at a high level points out the collapse of the French banking system and the enormous deficit.

I'm afraid Merkel+Sarkozy love to insult Italy and other countries only to show a scapegoat to their own dumb electorate, but they never read this paper from the BIS. That's the Bank of International Settlement, the central bank of central banks.

http://seekingalpha.com/article/252495-a-look-at-the-future-of-public-debt

They better shut the f*** up and think about their own budgets, before the market does it, sooner or later.

 

[Debaser82]

If everyone is bankrupt no one is bankrupt.

 

[morganist]

Quote from Debaser82:

If everyone is bankrupt no one is bankrupt.

Someone must have lent them the money. Who? People pension funds that's who. So pension funds will be hit and default. So forget public and private funded retirement.

 

[Martinghoul]

Quote from C6H12O6:

They better shut the f*** up and think about their own budgets, before the market does it, sooner or later.

That's misleading as you're comparing apples and oranges...

 

[morganist]

Quote from Martinghoul:

That's misleading as you're comparing apples and oranges...

I don't know the future pension liabilities in France and Germany are high.

Are you going to reply to my pm.

 

[nutmeg]

question.

If Greece owes the world 500b, this is not a large amount. Lehman's bk was 650b , which was 1 bank in one building in new york. The eu is going to collapse over 500b?

I am missing something here.

 

[Martinghoul]

Quote from nutmeg:
question.

If Greece owes the world 500b, this is not a large amount. Lehman's bk was 650b , which was 1 bank in one building in new york. The eu is going to collapse over 500b?

I am missing something here.

Greece, taken by itself, is irrelevant. Just like in the case of Leh, it's the ripple effects that matter.

 

[Happy Hopping]

http://www.spiegel.de/international/europe/0,1518,793719,00.html

and $1T on bailout fund.

At 60% forgiveness, whoever owns those Greek bond are virtually finish

German Chancellor Angela Merkel has told German lawmakers that the financial strength of the euro rescue fund, the European Financial Stability Facility, is to be leveraged to €1 trillion ($1.39 billion), and that a Greek debt cut of up to 60 percent is planned, opposition leaders said on Monday

 

[boris925]

Just heard on the radio....but not clearly.

The decision on greece has been made, investors who owned greek bonds lost 50%.

Can you confirm if this is the case? and what is the effect for the rest of the world?